Xiaomi is negotiating with Great Wall Motors to use its factory to produce electric cars

According to the report, Xiaomi is negotiating with Great Wall Motors to use its factory to produce electric cars. The Hong Kong stock Xiaomi Group has increased its gains and is now up more than 6%.

Xiaomi is negotiating to use Great Wall Motors to produce its own brand of electric cars in one of its factories in China. Xiaomi’s electric vehicles will be geared towards the mass market, which is in line with the company’s broad market positioning for electronic products.

Great Wall Motors will give engineering consulting services for Xiaomi to accelerate the advancement of this project. Great Wall Motor has not previously provided manufacturing services to other companies. Xiaomi and Great Wall Motors plan to announce their partnership as early as next week.

On the 19th of this month, according to 36 krypton reports, Xiaomi’s car is already on the line. It is learned from investors close to Lei Jun and car company executives and other people familiar with the matter that Xiaomi Group is rapidly advancing the car manufacturing project, and it is expected to establish a project within 1-2 months at the earliest.

The brand positioning initially discussed is similar to that of Xiaopeng Motors. High-end market with strong technological attributes. The person in charge of the plan is Xiaomi veteran Wang Chuan.

In 2019, LatePost stated that they learned from multiple sources that Xiaomi has decided to build a car and regarded it as a strategic decision, but the specific form and path have not yet been determined, and there may still be variables. A person familiar with the matter disclosed that Xiaomi’s car may be led by Lei Jun, the founder of Xiaomi Group.

In the afternoon of the same day, Xiaomi Group issued a response: Wait and see, there is no. In the evening, Xiaomi Group issued an announcement stating that it had noticed recent media reports about the group’s intention to enter the electric vehicle production industry.

The Group has always been concerned about the development of the electric vehicles ecology and has conducted continuous evaluation and research on the trends of related industries. The Group’s research on the electric vehicle production business has not yet arrived at the formal project stage.

(Via)